Cotton Ends Slightly Higher

The cotton midday gains faded but the market  held on to 2 to 4 point gains at the close. There have been 275 deliveries against December cotton futures through Dec 1. Open interest in the Dec contracts was down to just 175 as of Monday. USDA’s Cotton Systems report indicated 1,349 RBs were consumed in October. That was up 29% mo/mo but 1% below 2019. Cotton stocks also climbed 27% on the month to 1,714 RBs. Cotton sales on the online cotton trading platform The Seam were 6,040 bales for an average gross price of 65.82 cents/lb. The Cotlook A index was 79.80 cents/lb on the 30th, up 85 points. The AWP for cotton is 58.63 cents/lb. through Thursday.

Dec 20 Cotton closed at 70.59, unch
Mar 21 Cotton closed at 72.19, up 4 points
May 21 Cotton closed at 73.07, up 2 points
Jul 21 Cotton closed at 73.77, up 2 points

--- provided by Brugler Marketing & Management

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